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Saks leveraged buyout unlikely, but plausible, says Deutsche Bank

Deutsche Bank views a potential leveraged buyout of Saks as unlikely given the company's high valuation, nearly debt-free balance sheet, and aggressive operating strategy. However, Deutsche adds a sale is plausible, and its model suggests a potential takeout price range of $16-$19 per share. Deutsche has a Hold rating on Saks with an $11 price target.